Insider Selling: PubMatic (NASDAQ:PUBM) CEO Sells $458,040.00 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 44,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $10.41, for a total transaction of $458,040.00. Following the completion of the sale, the chief executive officer owned 21,206 shares in the company, valued at $220,754.46. This represents a 67.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PubMatic Price Performance

Shares of NASDAQ:PUBM opened at $11.68 on Friday. The company has a market capitalization of $542.42 million, a price-to-earnings ratio of -30.74 and a beta of 1.54. The firm’s 50 day simple moving average is $9.38 and its 200 day simple moving average is $8.61. PubMatic, Inc. has a fifty-two week low of $6.15 and a fifty-two week high of $13.88.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.05. The business had revenue of $62.57 million for the quarter, compared to the consensus estimate of $60.42 million. PubMatic had a negative net margin of 6.21% and a negative return on equity of 6.98%. Equities research analysts expect that PubMatic, Inc. will post -0.25 earnings per share for the current year.

Hedge Funds Weigh In On PubMatic

Several hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC grew its stake in shares of PubMatic by 26.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock worth $12,602,000 after acquiring an additional 321,200 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of PubMatic by 10.1% in the third quarter. Wellington Management Group LLP now owns 1,468,503 shares of the company’s stock valued at $12,159,000 after buying an additional 135,070 shares in the last quarter. CenterBook Partners LP grew its stake in shares of PubMatic by 53.3% in the fourth quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock valued at $10,174,000 after buying an additional 398,595 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of PubMatic by 9.1% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 929,249 shares of the company’s stock valued at $8,242,000 after buying an additional 77,566 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of PubMatic by 320.0% in the fourth quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock valued at $8,144,000 after buying an additional 699,549 shares in the last quarter. 64.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on PUBM. Rosenblatt Securities restated a “buy” rating and set a $21.00 target price on shares of PubMatic in a report on Thursday, April 23rd. Lake Street Capital upgraded shares of PubMatic from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Royal Bank Of Canada raised their target price on shares of PubMatic from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. B. Riley Financial restated a “buy” rating on shares of PubMatic in a report on Friday, May 8th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of PubMatic in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $12.88.

About PubMatic

PubMatic is a cloud-based digital advertising technology company that provides a supply-side platform (SSP) enabling publishers to automate and optimize the sale of their ad inventory across display, mobile, video and connected TV channels. Its core offerings include real-time bidding infrastructure, header bidding solutions under the OpenWrap brand and data analytics tools that deliver actionable insights on audience engagement and monetization performance. By facilitating seamless auctions and providing transparent reporting, PubMatic helps publishers maximize yield while improving buyer experiences.

Founded in 2006 by Rajeev Goel and a team of ad-tech veterans, PubMatic grew from an early entrant in programmatic selling to a publicly traded company, listing on the Nasdaq (symbol: PUBM) in December 2020.